John Robb: Bitcoin is surging out of start-up status

03 Economy, 11 Society, Advanced Cyber/IO, Budgets & Funding, Civil Society, Commerce, Commercial Intelligence, Ethics
John Robb

JOURNAL: Bitcoin is getting past start-up cruft

A Bitcoin wallet ID for me: 18YYkAMVyZVt6gzpZvBEF5RgsJ7aT7a8Yh

Bitcoin, the digital currency system, is starting to mature. As is always the case, maturity isn’t based on age (weak correlation) or success level. It’s based on experience. More specifically, maturity is based on how many difficulties the system overcomes. The greater or more fiendish the difficulties successfully navigated, the more maturation gained.

Few systems have been through meat grinder of experience as much as bitcoin. From the media to pundits/experts to (the) government to hackers to criminals. Even a bubble! Everyone has taken a shot at it. Despite all of this, it is still trading at around ~ $4. The software is getting better (there is encryption built into the desktop wallet now). The core system remains intact and unbroken despite a huge number of attacks.

Most importantly, people are starting to learn how to handle real/tangible digital cash. Handling digital cash, particularly lots of it, is serious business. It needs to be protected and you can’t leave it in the care of anybody you don’t trust.

Essentially, bitcoin has repeatedly proven that digital currencies can work in the wild.

NOTE: The most interesting us of bitcoin to me? If it was used as a PLATFORM for private currencies or publicly traded securities rather than as simply as a currency.